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Foxx

Do You BitCoin?

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24 minutes ago, John from Riverside said:

Fox

 

I havent been keeping up and modestly continue to buy bitcoin when I get paid......still a good investment?

John, i can't give you  financial advice. who knows where the market will go from today to tomorrow. personally, yes i still believe cryptos are the wave of the future and worth looking into. again please do not take my advice, your own due diligence is required. i was lucky in that i got into Bitcoin back in 2012 when it was $5 apeice. as such, regardless where it goes i have already won.

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7 minutes ago, Foxx said:

John, i can't give you  financial advice. who knows where the market will go from today to tomorrow. personally, yes i still believe cryptos are the wave of the future and worth looking into. again please do not take my advice, your own due diligence is required. i was lucky in that i got into Bitcoin back in 2012 when it was $5 apeice. as such, regardless where it goes i have already won.

Personal opinion will do...I wont hold you to it

 

Not putting more towards it then I can afford to lose......and its a long term thing for me.

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Bitcoin has  exploded over 10% higher today, obliterating its 50-day moving average. it is above $7000 for the first time since early June. it is also now testing its 100 day moving average, shooting up over $600 in 30 minutes.

 

stay tuned....

Edited by Foxx

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11 hours ago, /dev/null said:

 

Funny comment from this link.

 

“Can we please just change the name of Bitcoin to CrimeCoin already? That's the only thing it's good for.

 

Exactly. We could eliminate all but four coins, and use different ones for different specific purposes:
- Drug Coin
- Child Porn Coin
- Money Laundering Coin
- Ransomware Coin”

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54 minutes ago, Mr Info said:

 

Funny comment from this link.

 

“Can we please just change the name of Bitcoin to CrimeCoin already? That's the only thing it's good for.

 

Exactly. We could eliminate all but four coins, and use different ones for different specific purposes:
- Drug Coin
- Child Porn Coin
- Money Laundering Coin
- Ransomware Coin”

 

I had business dealings with an alternate currency in the early 2000s. I could never see any rationale for its use besides a few hippie communes and a lot of drug and human trafficking. 

 

Most of the people involved ended up indicted, though they were not personally involved in any of the darker crimes. 

 

Edited by BeginnersMind

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4 minutes ago, BeginnersMind said:

 

I had business dealings with an alternate currency in the early 2000s. I could never see any rationale for its use besides a few hippie communes and a lot of drug and human trafficking. 

 

Most of the people involved ended up indicted, though they were not personally involved in any of the darker crimes. 

 

MeadCoin would never be associated w/that kind of BS!

 

Okay, maybe illegal Stromboli trafficking. Hey, somebody has to supply the duty-free Italian mortadella & prosciutto and MeadCoin talks!

 

A few slogan:

 

"MeadCoin it's everywhere."

 

"When MeadCoin talks, everybody listens!

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hey @Foxx , any sense of where this stuff is headed?  I never did buy ant bitcoin, but own a smidge of ETH that is down 90% from its high!!!

 

Thinking of still buying some bitcoin, but wonder if it is the proverbial "catch a falling knife"

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hey Plenz,

 

been wanting to post to this thread for awhile now.  thanks for  bringing it to the forefront.

 

first of all, i have to own my prediction. obviously, 6 figure BTC is not in the cards this year. to say i was wrong would be the understatement of the year. again though, as stated throughout this thread, in no way am i a financial adviser.

 

with that said, i will offer up my current thoughts...

 

i did host that crypto currency conference back in late August/early September on the outskirts of Seattle, WA. which was attended by roughly 35/40 people from all over the world. by all accounts we had a really good time. the hot topic of conversation throughout was obviously BTC and all the aspects that come along with it, along with discussions on various other coins and a great many tokens. 

 

the hardest thing i guess is telling a bunch of people (myself included) that you are in a bear market when you have a bunch of people who are long. i have a great many contacts that i utilize to try and understand the direction things are heading in. it took me sometime to understand what one of them was trying to tell me but this person as been the most correct out of everyone i know with regard. to that end, my opinion is worth as much as the next guys i suppose (possibly less).  i did however take a position on the sidelines with a good percentage of my portfolio  just before the middle of the year. obviously i didn't time the top but i did so long before we got to the levels we are at today.

 

basically BTC is acting much like a commodity. some might argue that it is not but it bears all the hallmarks of a commodity. let us not forget that the US gov still classifies it as a 'property' even though it lost certain standing in 2018 that comes along with a 'property'. namely, tax reporting requirements (for this reason, i performed only a fraction of trading activity this year). doing some forensic analysis of BTC fiat price history, it can be argued that BTC has experienced 4 bubbles in it's short existence. with that thought, imo, this current bubble will not be complete until we reach into the triple digits, barely into it though. why do I think this? because having looked at the history of Bitcoin as a guide, history never really repeats, though it sure does rhyme often enough to cause me to take notice and appreciate it as a forecasting tool. the 2011 bubble cycle lasted 2 years before that was complete. the next bubble in 2013 was a mini and lasted a few months before that cycle completed. the second bubble of 2013 lasted 4 years before it's cycle was complete. which in turn brought us to our current bubble that we are now living through. it could also be argued that there was a bubble prior to the one in 2011.

 

i am still long BTC and have a great belief in blockchain technology. i truly believe that blockchain is going to change the way everyone interacts with the world around them. it is already though you may not know it. i still think (hope) BTC is going to see 6 figures per at some point in the future. the biggest question is when that future will arrive. i am strictly of the opinion today that the current bubble cycle needs to complete itself before it will pave the way for the next bubble and that 6 figure BTC. if i had to guess, i would venture late 2019. however, when i see BTC in the 1000/1500K area, i will begin to scale back in.

 

the reason i am a believer and still long on BTC has been stated previously in this thread many times. to be succinct about why, is i think it will become an international settlement vehicle between countries. something is going to supplant the USD as the world reserve and imo, a neutral conveyance has the best opportunity to do so.

 

i hope this answers your question, if not let me know and i will try to address anything i may have omitted.

 

again, anything contained within this post should not be construed as financial advice, these are just the musings of a keyboard jockey. your own due diligence is of the utmost importance before investing in any financial instrument.

Edited by Foxx
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AppreciAte the post @Foxx  let me make sure I understand. 

 

You think i good buy in level may may be under 2000? Again, I understand it’s best guess, and BTC could be at $10,000 before it hits $ 2500, and it could hit zero after hitting $1800. 

 

I much appreciate the insight, you understand this stuff way more than I do. 

 

In in terms of blockchain, I agree. Why I bought the ETH @500, thought that the blockchain play. Small stake, but no thoughts of selling any.  Am think of double my position for 20% of the investment!😂

 

as they said in boilerrrom, if ya liked it at $500, ya gotta love it at $94!!!!!

Edited by plenzmd1
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21 minutes ago, plenzmd1 said:

AppreciAte the post @Foxx  let me make sure I understand. 

 

You think i good buy in level may may be under 2000? Again, I understand it’s best guess, and BTC could be at $10,000 before it hits $ 2500, and it could hit zero after hitting $1800. 

 

I much appreciate the insight, you understand this stuff way more than I do. 

 

In in terms of blockchain, I agree. Why I bought the ETH @500, thought that the blockchain play. Small stake, but no thoughts of selling any.  Am think of double my position for 20% of the investment!😂

 

as they said in boilerrrom, if ya liked it at $500, ya gotta love it at $94!!!!!

correct, Plenz. BTC could go to $10K before hitting $2500 and it could go to $0 after hitting $1800. a good entry point may be sub $2K. of course, your mileage may vary.

 

in an nutshell, the beauty of the blockchain is that it is a trustless ledger and therefore immutable. this removes the possibility of corruption which is priceless. lots of innovation coming down the pike.

 

 

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On 4/11/2017 at 5:53 PM, mead107 said:

Meadcoin will rule the world. Hurry get your order in NOW.

 

I’ve read that it only works for wine purchases...🍷

.

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38 minutes ago, The Senator said:

 

I’ve read that it only works for wine purchases...🍷

.

Love you brother.   👍

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On 9/20/2018 at 8:53 PM, mead107 said:

More TBD members have meadcoin than bitcoin 😎

 

Meadcoin is still the centerpiece of my retirement plan!!! 

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1 hour ago, The Senator said:

 

I’ve read that it only works for wine purchases...🍷

.

 

Works for me.  Wine will be a centerpiece of my retirement.

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2 minutes ago, KD in CA said:

 

Works for me.  Wine will be a centerpiece of my retirement.

 

I think I’m retired.....

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Just now, Augie said:

 

I think I’m retired.....

 

Was just thinking which bottle I’d open tonight.  

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1 minute ago, KD in CA said:

 

Was just thinking which bottle I’d open tonight.  

 

I guess I’m 3 hours ahead of you, or in today’s case, more like 5. 

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Just now, Augie said:

 

I guess I’m 3 hours ahead of you, or in today’s case, more like 5. 

 

Haha.....happy hour beer on ferry.   T-minus 40 minutes to pasta and wine.

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From $19,000 to $3,400.   Glad I did not buy in last year.  

No loss on meadcoin. 🤓🤓🤓

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On 12/18/2018 at 2:27 PM, mead107 said:

From $19,000 to $3,400.   Glad I did not buy in last year.  

No loss on meadcoin. 🤓🤓🤓

 

I’m thrilled to hear my retirement plan is still intact! 

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25 minutes ago, BigMcD said:

Between this and the Seahawks loss, I am taking a ***** kicking in the finance dept! 

 

hang in there, things will bounce back...

 

 

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